ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have received a consensus recommendation of “Moderate Buy” from the seventeen brokerages that are presently covering the firm, Marketbeat reports. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $24.00.

Several brokerages have recently issued reports on ACAD. Guggenheim cut ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $23.00 to $20.00 in a research note on Friday, January 3rd. HC Wainwright restated a “buy” rating and set a $27.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Deutsche Bank Aktiengesellschaft started coverage on ACADIA Pharmaceuticals in a research note on Tuesday, February 11th. They set a “hold” rating and a $22.00 target price for the company. Cantor Fitzgerald restated an “overweight” rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Finally, Morgan Stanley restated an “equal weight” rating and set a $20.00 target price on shares of ACADIA Pharmaceuticals in a research note on Friday, March 7th.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other news, Director Elizabeth A. Garofalo sold 4,919 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $18.23, for a total value of $89,673.37. Following the transaction, the director now owns 17,595 shares of the company’s stock, valued at approximately $320,756.85. The trade was a 21.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders sold 6,167 shares of company stock worth $114,583. 28.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ACAD. Principal Financial Group Inc. increased its holdings in shares of ACADIA Pharmaceuticals by 67.8% in the third quarter. Principal Financial Group Inc. now owns 129,551 shares of the biopharmaceutical company’s stock valued at $1,992,000 after purchasing an additional 52,340 shares during the period. Atria Investments Inc grew its holdings in ACADIA Pharmaceuticals by 10.8% during the third quarter. Atria Investments Inc now owns 24,437 shares of the biopharmaceutical company’s stock worth $376,000 after acquiring an additional 2,384 shares during the period. Victory Capital Management Inc. grew its holdings in ACADIA Pharmaceuticals by 2.9% during the third quarter. Victory Capital Management Inc. now owns 97,130 shares of the biopharmaceutical company’s stock worth $1,494,000 after acquiring an additional 2,708 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in ACADIA Pharmaceuticals by 26.6% during the third quarter. Oppenheimer Asset Management Inc. now owns 37,429 shares of the biopharmaceutical company’s stock worth $576,000 after acquiring an additional 7,872 shares during the period. Finally, Natixis Advisors LLC grew its holdings in ACADIA Pharmaceuticals by 58.6% during the third quarter. Natixis Advisors LLC now owns 40,488 shares of the biopharmaceutical company’s stock worth $623,000 after acquiring an additional 14,961 shares during the period. Institutional investors and hedge funds own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Stock Performance

Shares of ACAD opened at $17.20 on Tuesday. The stock has a 50-day simple moving average of $18.40 and a 200-day simple moving average of $16.99. The stock has a market capitalization of $2.87 billion, a PE ratio of 22.05 and a beta of 0.43. ACADIA Pharmaceuticals has a 1 year low of $14.15 and a 1 year high of $20.68.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization innovative medicines that address unmet medical needs in central nervous system (CNS) disorders and rare diseases in the United States. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis; and DAYBUE, a novel synthetic analog of the amino-terminal tripeptide of insulin-like growth factor 1 for treatment of Rett Syndrome.